Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Long story short: My wife's dad died at 90, leaving behind three daughters and a fourth wife. The Estate was totally screwed up, and family agreed to an outcome that was approved by the court, so it's all legit. Part of the settlement involved fourth wife getting the RMDs during her life, with the beneficiaries to her inherited IRA being the three daughters. The IRA was transferred to the fourth wife as an inherited IRA, with the daughters being named beneficiaries. My question is what happens when the fourth wife dies. Does each daughter get one-third as a rollover inherited IRA, subject to RMDs of I guess the dead dad or the dead fourth wife, or will the IRA be dissolved and taxes paid, with the after-tax balance being distributed (or taxes paid by each daughter)? Thanks.
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement